$WTRH Stock Up After Morgan Stanley Reveals Big Stake

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WTRH stock rose more than 20% on October 13, 2021, after Morgan Stanley revealed a double-digit stake in the stock.

Waitr Holdings soars after Morgan Stanley discloses double-digit stake

Shares of Waitr Holdings are moving higher after Morgan Stanley last night disclosed a 10.3% stake in the online ordering technology platform operator. Morgan reported a 12,127,760 share stake in Waitr. The filing with the SEC does not allow for activism.

Waitr Closes ProMerchant, Flow Payments and Cape Cod Merchant Services Acquisitions

On August 26, 2021, Waitr Holdings Inc. (Nasdaq: WTRH), a leader in on-demand food ordering and delivery, announced the Company has completed the asset acquisitions of payment processing companies ProMerchant, Flow Payments and Cape Cod Merchant Services, three players in the merchant processing solutions space.

“These acquisitions of these innovative payment companies are part of our growth strategy to offer a full suite of payment processing services to our current base of restaurants and any restaurant in the future,” said Carl Grimstad, CEO and Chairman of the Board of Waitr. “Our goal is to be able to offer a suite of payment services to our ecosystem partners, including loyalty programs, gift cards, payment processing, and merchant lending. We view these acquisitions as an important step in pursuing this strategy and we believe this could lead to significant growth for Waitr in the future,” concluded Mr. Grimstad.

Waitr Holdings announces partnership with Smoothie King

On August 17, 2021, Waitr Holdings announced a partnership with Smoothie King. Waitr and Bite Squad have started deliveries from over 350 Smoothie King locations. “We’re thrilled Smoothie King has chosen Waitr as a local delivery service partner,” said Carl Grimstad, CEO and Chairman of Waitr. “They are the leader in the smoothie industry and the new partnership delivers on our ongoing commitment to adding more options for our diners.” In addition to adding Smoothie King to the Waitr platform, the two companies are planning a number of joint initiatives to promote the partnership, leveraging co-branding marketing opportunities in select markets. In fact, both companies have been involved in collaborations with professional sports teams in New Orleans, one of Waitr’s core markets. Waitr’s recent series of digital food ordering integrations will streamline the new partnership. Smoothie King has maintained sustained focus on refining digital-ordering platforms to better align with guest-purchasing behaviors. Since their introduction in March 2020, Smoothie King’s online ordering, curbside pickup and delivery capabilities have continued to grow.

VIDEO WTRH Stock, Waitr Holdings Reversal?

Voorhees Trading says, “WTRH Stock, Waitr Holding Reversal? WTRH Stock had a nice move up today considering Morgan Stanley bought 12 million shares of WTRH Stock! Morgan Stanley recently only had 800,000 shares! WTRH Stock has broken out of key level resistance! Good chance for a reversal in Waitr Holding!”

WTRH Stock, Waitr Holdings Reversal?

Founded in 2013 and based in Lafayette, Louisiana, Waitr operates an online ordering technology platform, providing delivery, carryout and dine-in options. Waitr, along with Bite Squad and Delivery Dudes, connect local restaurants and grocery stores to diners in underserved U.S. markets. Together, they are a convenient way to discover, order and receive great food and other products from local restaurants, national chains and grocery stores. As of June 30, 2021, Waitr, Bite Squad and Delivery Dudes operate in small and medium sized markets in the United States in over 900 cities.

WTRH Stock Technical Analysis

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up. The technical rating of WTRH is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. For more technical analysis of WTRH stock click here.

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